Toward a fully renewable European Electric Energy System

The profound transformation of the European electricity system is putting the design of the electricity markets that emerged during the restructuring of the 1990s and early 2000s into question. e need for decarbonisation and the wave of innovation in ICT are a ecting the optimal functioning of those markets. New options, such as the ‘privatisation’ of service reliability, are becoming a reality, while some of the solutions adopted in the past, such as the reliance on day-ahead energy-only wholesale markets based on marginal pricing, are no longer sustainable. ese changes call for a rethinking of the way markets are built within the EU. is is a fundamental step which academics, practitioners and policy-makers have to make together if they want to provide the conditions for long- term investments, integrate a growing amount of renewable energy sources e ciently and securely, and ensure the active participation of customers and communities at the local level.